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Problem I Computation of taxable income. The records for Aster Company show this data for 2023 : - Life insurance proceeds from an officer's death for officers were $55,000 and included on the income statement. - For tax purposes, MACRS depreciation is used and is $45,000. For F/S purposes, Aster uses straight-line depreciation and it amounted to $55,000. - Interest received on tax exempt bonds was $4,000. - Bad debts on the income statement were estimated at 3% of sales and amounted to $20,000. The actual amount of accounts that were deemed uncollectible during the year were $28,000. - Pretax financial income is $725,000. The tax rate is 25%. Instructions (a) Prepare a schedule starting with pretax financial income and compute taxable income. (b) Prepare the journal entry to record income taxes for 2023